• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Chapter 13. Choosing the Right Listing Options > To Reserve, Or Not to Reserve

To Reserve, Or Not to Reserve

After you decide on the duration of your auction, how many units you're selling, and your starting price, you run into the Reserve Price option. As you learned in Chapter 10, a reserve price auction is one in which you set a low starting price to get the bidding started, but keep a higher, hidden reserve price that serves as the lowest price you'll sell the item for. For example, you might start the bidding at $10 but have a reserve price of $50. You don't actually sell the item until you get a bid at $50 or above; a high bid of $49.99 wouldn't be a winning bid.

On the upside, reserve price auctions let you set however low a starting price you want—and low starting prices get a lot of buyer attention, and get the bids flowing. You're not obligated to sell at that low price, of course; that's why you have the reserve, as protection in case the bids don't go high enough.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint